Trade Setup for Tuesday: Stock Market Today (2 Jan 2024)
Trade Setup for Tuesday
Trade Setup for Tuesday, 2 Jan 2024: Good morning, and welcome to the morning reports, the top things to know ahead of market opening and Trade setup today.
Asian Stock Markets
Asian stock market indexes are trading mixed on Tuesday, as most traders returned after the New Year holiday. In Japan, investors are assessing the damage caused by the earthquake on New Year’s Day. Japan’s stock markets will remain closed until Jan 3 on account of the New Year holiday. Investors are awaiting the manufacturing PMI data from various countries in the region later in the day.
Australia’s S&P ASX 200 is trading higher by 0.21%, while South Korea’s Kospi erased early losses and trading flat. Shanghai and Hang Seng are trading lower by 0.14% and 0.82% respectively, as the official data from China over the weekend revealed a significant contraction in its manufacturing activity. The Straits Times is up by 0.35% while Taiwan is down by 0.25% at 7.20 am IST.
US and European Stock Markets
The US and European stock markets were closed on Monday due to the New Year holiday.
Indian stock markets
Indian stock markets managed to close just above their flat line on the first trading day of 2024. The domestic markets opened slightly lower and traded volatile on Monday’s late trade. However, broader markets outperformed the equity benchmarks.
The market breadth was quite positive with the advance decline indicating a ratio of 2:1 at the close. FIIs were the net sellers in the Indian equity cash segments, while DIIs were the net buyers. FIIs sold shares worth Rs 855.80 crore while DIIs bought shares 410.46 crore.
Stock Market Today
Asian markets are trading mixed today. The Gift Nifty closed flat to positive on Monday and currently trading 14 points down at the 21860 level. The indication from the Gift Nifty is slightly positive, while Asian markets are trading mixed. Indian stock market indexes are likely to open on a flat note today and will trade sideways.
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News you should read before the trade setup for today, 2 Jan 2024
As per the Ministry of Finance, data showed on Monday post market hours, the government’s Goods and Services Tax (GST) collections for December 2023 were reported at 1.65 lakh crore, gaining 10% on YoY. December’s GST collections registered 2% lower than the Rs 1.68 lakh crore collected in November. The GST collection came in above the 1.5-lakh-crore market consecutive for the tenth month in December.
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Happy Investing!!
Editor’s Desk
